The Reserve Bank of India (RBI) on May 15, 2019 released 'Payment and Settlement Systems in India: Vision 2019 – 2021', a vision document for safe, secure, quick and affordable e-payment system.
The document was released after considering that the number of digital transactions are expected to increase over four times to 8707 crore by December 2021.
The core theme of the vision document is ‘Empowering Exceptional (E)payment Experience', that stresses on empowering every Indian to access a bunch of e-payment options safely and conveniently.
The vision document aims to achieve "a ‘highly digital’ and ‘cash-lite’ society through Goal Posts (4Cs):
• Cost effectiveness
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